For the April-June quarter (Q1FY21), GE Power India
had posted a loss before tax of Rs 22.6 crore against a loss of Rs 12.2 crore Q1FY20. The company has seen a decline in order flow with Rs 532 crore fresh orders received in Q1FY21 as against Rs 2,460 crore in the previous year quarter, which included three flue gas de-sulphurisation (FGD) orders.
“Government of India (GoI) has taken several initiatives for cleaner and cheaper ‘Power for All’, such as scaling up the renewable energy capacity addition target to 175GW by 2022. There is an oversupply situation in power generation. In such a scenario, the most important concern is the lack of orders for new power projects,” GE Power India
said in the 2019-20 annual report.
At 11:57 am, the stock was trading 4 per cent lower at Rs 289 on the BSE, as compared to a 0.54 per cent decline in the S&P BSE Sensex. A combined around 800,000 equity shares changed hands on the counter on the NSE and BSE.
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